CytoSorbents reports Q3 adjusted EPS (8c), consensus (6c)

Reports Q3 revenue $8.61M, consensus $10.18M. “I am pleased with the progress we made this quarter. Our topline performance is a testament to the improving strength of our critical care and cardiac surgery businesses, driven by solid execution from our direct sales team and distributor network. In addition, our manufacturing is now running smoothly with an expected return to more normalized production levels and product gross margins in the fourth quarter of this year.” stated Dr. Phillip Chan, Chief Executive Officer of CytoSorbents (CTSO). “Meanwhile, we believe that we have significantly improved our operating metrics and continue to demonstrate a disciplined approach to cash management. We believe this will enable us to scale our business effectively with improved operating leverage as we prepare for the commercial launch of DrugSorb(TM)-ATR in North America, if approved, and position ourselves for the next phase of growth.”